FedEx Co. (NYSE:FDX) Shares Bought by Cooper Financial Group

Cooper Financial Group increased its holdings in FedEx Co. (NYSE:FDX) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,146 shares of the shipping service provider’s stock after purchasing an additional 248 shares during the quarter. Cooper Financial Group’s holdings in FedEx were worth $912,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Salem Investment Counselors Inc. increased its stake in FedEx by 5.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 20,289 shares of the shipping service provider’s stock worth $5,904,000 after buying an additional 1,075 shares in the last quarter. &PARTNERS grew its position in shares of FedEx by 131.3% in the first quarter. &PARTNERS now owns 2,635 shares of the shipping service provider’s stock valued at $763,000 after purchasing an additional 1,496 shares in the last quarter. Sanders Morris Harris LLC grew its position in shares of FedEx by 15.6% in the first quarter. Sanders Morris Harris LLC now owns 3,700 shares of the shipping service provider’s stock valued at $1,072,000 after purchasing an additional 500 shares in the last quarter. Gulf International Bank UK Ltd grew its position in shares of FedEx by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 19,724 shares of the shipping service provider’s stock valued at $5,714,000 after purchasing an additional 112 shares in the last quarter. Finally, Allied Investment Advisors LLC grew its position in shares of FedEx by 3.0% in the first quarter. Allied Investment Advisors LLC now owns 39,898 shares of the shipping service provider’s stock valued at $11,560,000 after purchasing an additional 1,180 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. In the last three months, insiders sold 136,668 shares of company stock valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

FDX stock opened at $253.66 on Monday. The firm has a 50 day moving average of $256.50 and a 200-day moving average of $255.91. FedEx Co. has a 12-month low of $224.40 and a 12-month high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market cap of $62.42 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.92 and a beta of 1.16.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the company earned $3.41 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts expect that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx declared that its board has approved a stock repurchase program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FDX. Stifel Nicolaus dropped their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Evercore ISI increased their price objective on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, TD Cowen increased their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $304.21.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.